Stocks & Commodities V. 24:5 (72-76): Product Review: OptionsXpress by David Penn

Stocks & Commodities V. 24:5 (72-76): Product Review: OptionsXpress by David Penn

Rather than a comprehensive look at OptionsXpress, the stock, options, and electronic futures brokerage that has been much lauded in the financial media of late (including commendations from readers of the magazine you have in your hands right now), this peek will focus on those tools that an increasing number of options traders have come to rely on in order to find, evaluate, and execute winning trades in the options marketplace. Whether you are a plain-vanilla options trader who limits your work to straightforward buying and selling of calls and puts, or a sophisticated spread trader looking to ferret every last nickel of profit out of a pair of options, the tools that OptionsXpress provides will go a long way toward helping options traders become as successful as they want to be.

So forgive me if the following discussion is a little light on account minimums and investor experience levels. Or if I don’t spend much time talking about setting up initial accounts or transferring funds from other accounts. And while I’m not necessarily assuming that all readers will have a complete knowledge of what options are, what puts and calls are, to say nothing of the complex options combinations — I’m not going to talk a great deal about them, either. The purpose of this review is mostly to alert those who trade options and those who have been thinking about trading options about the tools available at OptionsXpress that will make it easier for them to do so.